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WHUT (Howard University Television) 1
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Feb 24, 2013 8:00am EST
down to boost exports. here is the evidence the japanese yen against the u.s. dollar since lehman brothers collapsed. the yen has been high, but now it is rapidly collapsing. the problem with a currency war, even without declaring one, by taking certain actions, you can make others countries feel they're being attacked. >> one thing the emerging inntry are putting blockages the way of additional currency of appreciation of their exchange rates. brazil has done that. china intervenes in the currency markets. switzerland puts a cap on its rate. they're trying to defend themselves. each of those distortions in the market forces action somewhere else. it is a dangerous situation. >> if we do get into a currency ar, the united kingdom -- sterling fell by 20%. the bank of england was pleased by that. here is the thing, sterling is falling again. why? >> sterling is falling because it is likely to lose its aaa rating%. -- a rating soon. the bank of england is likely to print more money. it is likely to be undesirable from an international investor perspective. the general economic outloo
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